Is There Life After the Homebuyer Tax Credit?

Posted by Georgia Lacy — May 24, 2010

(TUCSON, AZ) Now that the April 30, 2010 homebuyer tax credit deadline to enter a qualified purchase contract has passed, many people have started asking is: "Is there life after the tax credit"?Long Realty Company recently conducted a survey of its agents to find out what their perception is on how much impact the homebuyer tax credit has had here in Arizona and in what direction the housing market will go for the remainder of 2010.Almost half of the 230 agent respondents said that the tax credit will impact less than 10 percent of their buyers, and 58 percent of the respondents said they thought that buyer activity will stay the same for the balance of the year. 846 closed transactions and 606 pended transactions were reported in the first three months of 2010 from these respondents.“While it is certain that the homebuyer tax credit has had some impact to the market, it appears that, at least from a Long Realty agent perspective, that it may not have been the primary driver of business so far this year,” said Rosey Koberlein, CEO of Long Companies. “Agents feel that the right house at the right price, with low mortgage rates, is driving buyer activity, and that the tax credit has been a secondary incentive, which, if true, means that those primary drivers of the housing market remain after April 30th. With attractive pricing and historically low interest rates, we’re sure to see an exciting summer for Arizona real estate,” she said.To view the complete survey results, visit Long Realty’s Arizona Housing Statistics blog.  About Long Companies Long Companies is comprised of Long Realty Company, Long Mortgage Company, Long Title Agency and Long Insurance Group – all working together to create a full range of real estate services and products. Based in Tucson, Long Realty Company is the leading real estate brokerage company operating in southern Arizona. It offers an unparalleled level of award‐winning residential and commercial real estateservices through a network of more than 1,400 licensed real estate associates in more than 38 offices, including 22 affiliate realty and property management companies that are independently owned and operated throughout Arizona and into Mexico. Long Realty Company, a part of HomeServices of America, a Berkshire Hathaway affiliate, has been helping generations of Arizonans achieve their dreams of homeownership since 1926. For more information, visit www.LongRealty.com. The latest releases and announcements for Long Companies can be found in the Long Realty Newsroom, available at www.LongRealtyNewsroom.com.

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